BDO's Minimum Opening Balance Requirements

BDO (Banco de Oro), the Philippines' largest bank by assets, does not charge an account opening fee for most savings accounts. However, you do need to deposit money when you open the account — this is called a minimum opening balance, and the amount depends on which savings product you choose.

For BDO's standard savings account (called BDO Savings Account), the minimum opening balance is typically 1,000 Philippine pesos. This is the money you deposit on the day you open the account. It is not a fee; it becomes your account balance and you can withdraw it later, though some accounts have rules about how much you must keep in the account at all times.

BDO also offers other savings products with different opening requirements. The exact amounts can shift based on promotions or changes to BDO's policies, so confirm the current requirement when you visit a branch or check BDO's official website before you go in.

Key Takeaways

  • BDO's standard savings account requires a minimum opening balance of 1,000 pesos, which is not a fee but money that becomes your account balance.
  • Different BDO savings products (such as high-yield or youth accounts) may have different opening balance requirements.
  • You will need a valid government ID, proof of address, and your Social Security System (SSS) number or Tax Identification Number (TIN) to open an account.
  • Some BDO branches may waive or reduce the opening balance during promotional periods, so it is worth asking when you visit.

What Documents You Need to Bring

Beyond the opening balance itself, BDO requires documentation to verify your identity and address. Bring one valid government-issued ID (such as a passport, driver's license, or national ID) and one proof of address dated within the last three months (such as a utility bill, lease agreement, or bank statement).

You will also need either your SSS number (if you are employed or self-employed) or your TIN (Tax Identification Number). If you do not have either, BDO can assign you a temporary number during account opening, though you will need to provide the permanent one later.

Bring the original documents, not photocopies. BDO staff will verify them and may keep copies on file.

Monthly Maintenance Fees and Minimum Balance Rules

Opening the account is free, but BDO may charge a monthly maintenance fee depending on the account type and your balance. For the standard BDO Savings Account, there is usually no monthly fee if you maintain a minimum average daily balance — this is typically 1,000 to 5,000 pesos, depending on the specific account variant.

If your balance falls below the required minimum on any day of the month, BDO may charge a maintenance fee (often 100 to 150 pesos). Some accounts waive the fee if you maintain a higher balance or if you meet other conditions, such as receiving a salary deposit each month.

Ask the bank representative about the exact balance requirement and fee structure for the specific account you are opening. The rules differ between account types, and knowing them upfront prevents surprise charges later.

How to Open an Account in Person

Visit any BDO branch with your documents and opening balance. The process usually takes 15 to 30 minutes. A bank representative will ask you to fill out an account opening form, verify your identity and address, and collect your opening deposit.

You will receive a passbook (a record of your transactions) and a debit card, though the card may take a few business days to arrive by mail. Ask the representative whether you can use your account online or via the BDO mobile app immediately, or whether there is a waiting period.

Keep your passbook and debit card in a safe place. Your passbook shows your account number, which you will need for transfers and other transactions.

Opening an Account Online or Through the Mobile App

BDO also allows you to open certain savings accounts through its website or mobile app without visiting a branch in person. The process is faster, but you will still need to verify your identity — usually by uploading a photo of your ID and proof of address.

If you open online, you may be able to fund the account immediately using a credit card, debit card, or online banking transfer from another bank. The opening balance requirement is the same, but you do not need to carry cash to a branch.

After you submit your application online, BDO typically confirms your account within one to three business days. You can then use the account for transfers and bill payments right away, though your physical debit card will still arrive by mail.

Special Accounts with Different Opening Requirements

BDO offers savings accounts designed for specific groups, and some have lower or higher opening balances. For example, BDO Youth Savings Accounts (for people under 18) may have a lower opening balance, while premium or investment-linked accounts may require more.

If you are opening an account as a minor, a parent or guardian must be present and provide their own ID and proof of address. The account may be jointly owned or under the guardian's name with the minor as a beneficiary — ask the bank which structure applies.

Before you visit, check BDO's website or call your nearest branch to confirm which account types are available and what each one requires. Promotions sometimes lower the opening balance for new customers, so it is worth asking.

What Happens If You Cannot Meet the Minimum Opening Balance

If 1,000 pesos is more than you can deposit right now, you have a few options. Some BDO branches occasionally run promotions that reduce or waive the opening balance for new accounts — call ahead to ask whether any are active.

You can also open an account with a smaller deposit and ask the bank to waive the opening balance requirement, though this is not may provide and depends on the branch manager's discretion. Alternatively, you can wait until you have saved the amount and open the account later.

If you need a savings account urgently and cannot meet BDO's requirement, other Philippine banks (such as Metrobank, Unionbank, or smaller rural banks) may have lower opening balances or different terms. Compare a few banks before deciding.

Frequently Asked Questions

Is there a fee just to open a BDO savings account?

No, BDO does not charge an account opening fee. You only need to deposit the minimum opening balance (usually 1,000 pesos), which becomes your account balance, not a fee.

Can I open a BDO savings account without going to a branch?

Yes, BDO allows online account opening through its website or mobile app for certain account types. You will still need to verify your identity by uploading a photo of your ID and proof of address, and you must deposit the opening balance using a card or transfer from another bank.

What happens if my balance drops below the minimum?

If your average daily balance falls below the required minimum (usually 1,000 to 5,000 pesos depending on the account type), BDO may charge a monthly maintenance fee of 100 to 150 pesos. Some accounts waive the fee if you receive a salary deposit each month.

How long does it take to get my debit card after opening an account?

Your debit card typically arrives by mail within three to seven business days after you open the account. You can use your account for transfers and bill payments immediately, even before the card arrives.

Can a minor open a BDO savings account?

Yes, minors can open a BDO Youth Savings Account with a parent or guardian present. The guardian must provide their own ID and proof of address, and the account may be jointly owned or under the guardian's name with the minor as a beneficiary.